May 7, 2014 / 5:42 AM / in 5 years

Romania - Factors to watch on May 7

BUCHAREST, May 7 (Reuters) - Here are news stories, press reports and events to watch which may affect Romanian financial markets on Wednesday.


Romania’s second-largest bank, BRD, controlled by France’s Societe Generale, posted a first-quarter net profit of 37 million lei ($11.61 million), it said on Wednesday.


Romania’s central bank left its key interest rate at a record low of 3.50 percent on Tuesday and forecast lower inflation in 2014, although it warned that volatile capital flows in emerging markets might create risks for its outlook.

Romania’s central bank has revised downward this year’s inflation forecast to 3.3 percent from 3.5 percent, central bank Governor Mugur Isarescu said on Tuesday.


Romania’s leftist government aims to join the euro zone at the start of 2019 as its economy has regained its footing under IMF-led aid deals after the financial crisis, Budget Minister Liviu Voinea said in a statement on Tuesday.


U.S energy major Chevron has begun drilling for shale gas at its exploration well site in eastern Romania, the company said on Tuesday.


Central European government bonds firmed slightly on Tuesday, helped by strong economic data from around the region that overshadowed concerns over the situation in neighbouring Ukraine’s crisis.


French tyremaker Michelin plans to close its truck tyre plant in Budapest in response to adverse trends and aggressive competition in the European market.

Production of tyres sold under the Taurus, Riken and Kormoran brands will end at the plant in mid-2015 and mainly be relocated to facilities in Poland, Romania and Germany, Michelin said, adding that 512 staff would be affected.


Romanian state-owned gas producer Romgaz said it has signed a deal to deliver gas to state-owned power plant Electrocentrale Galati for 1.6 million lei ($502,100).


Romania’s state-owned postal service company Posta Romana will stage four days on protests in May, aimed at replacing the firm’s management and getting wage rises, a union leader was quoted as saying.

For a schedule of forthcoming Romanian events, double click , and a calendar of east European economic indicators, see.

For other related news, double click on: ———————————————————————————————- Romania Market Debt Romanian forex Romania Market Report Romanian money Emerging Market Debt Emerging forex All Emerging Markets news CEE indicators All East Europe News E.Europe equities TOP NEWS — Emerging markets TOP NEWS — Convergence watch Romanian indicators Main page of Reuters poll ——————————————————————————————— ($1 = 3.1865 Romanian lei)

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